AN ACT relating to public employee benefits.

This bill changes the rules around "pension spiking" — a term for last-minute pay raises that can artificially inflate an employee's retirement benefit. It creates an exemption so that pay increases officially approved or funded by a government employer, or required by a collective bargaining agreement, will not be penalized under those anti-spiking rules for members of three Kentucky public retirement systems. This means workers who receive legitimate, government-authorized raises near retirement will not have…

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